techUK’s new Growth Plan providers a proposal to UK government on boosting economic growth by leveraging the tech sector. Thanks for highlighting Circulor as a leading example! The UK remains the number one tech ecosystem in Europe and the third most valuable in the world, with a combined market value of $1.1 trillion in Q1 2024. However, the economy is suffering from slow growth and lagging productivity in comparison to other G7 nations requiring decisive action by the Government to maintain competitiveness. The report highlights the wide-ranging benefits from adopting new technologies within businesses - improving productivity (54%), reaching new customers (50%), growing revenue (47%), becoming more competitive (46%) and developing new products (42%). See below for more insights from TechUK... Julian David Antony Walker Matthew Evans Sue Daley Neil Ross Samiah Anderson Mia Haffety Margherita Certo Alice Campbell Archie Breare Oliver Alderson #EconomicGrowth #TechSectorGrowth
Today, techUK published our Growth Plan 📈 Access the full Plan here: https://lnkd.in/dsRbvqdB The Growth Plan has been written in consultation with our members and forms our submission to the Chancellor ahead of the Budget. To support the Government's objective of leveraging economic stability and expanding the economy, techUK has compiled some of its best recommendations into our Growth Plan. This comes after the publication of our Seven Tech Priorities (2024) and UK Tech Plan (2023) reports. In order to unlock long-term economic growth, our recommendations centre on three themes: 🧱 Building the right foundations 💪 Empowering the competitiveness of the UK’s economy 🚀 Shooting for the stars By acting on the recommendations of our Growth Plan, the Government could: ● Increase the GVA of the tech sector's annual economic contribution from £150 billion to £200 billion by the end of the decade; ● Create almost 700,000 new tech jobs across the nations and regions of the UK; ● Increase tax revenue and efficiency savings for HM Treasury by accelerating the adoption of technology throughout the economy, according to the OBR's estimate. This is more than twice the £22 billion black hole the Chancellor needs to close. Find out more via the link: https://lnkd.in/dsRbvqdB In addition to the Growth Plan release, techUK has today announced the formation of our Growth Council, which will be revealed later. Julian David | Antony Walker | Matthew Evans | Sue Daley | Neil Ross | Samiah Anderson | Mia Haffety | Margherita Certo | Alice Campbell | Archie Breare | Oliver Alderson #EconomicGrowth #TechSectorGrowth __________ 🌱 𝗝𝗼𝗶𝗻 𝗼𝘂𝗿 𝘁𝗲𝗰𝗵 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 🌍 https://lnkd.in/eR6Q4N3c